When you have good capital in your hand for your business you might be using it sparingly. But this should not be the way. Proper utilization of resources by avoiding wastage is the ultimate goal for the success of any business. You should refrain yourself from investing in some pocket without learning about the need.
Here are some useful tips that could help you through the judging of the requirement of software for contractors in your business.
Internal Assessment of the software: First you need to ask your internal publics about the necessity of the software. A report on the need for the software in your business could be more helpful.
Research: A well-done research on a number of other software can give you a brief idea about what you actually need for your particular set of work in your company. Research on company specific software could help your streamline your purchase in a more justified way.
Meet your vendors: A meeting and discussion with a number of vendors will make you aware of the other options available in the market. Product demos would be the best idea to judge the features from close.
Test drive for requirement and functioning: Trying the product once before you finalize it would help you understand the pros and cons of it.
Analyze: Follow-up with valued references and judge closely if it meets your company needs.
Purchase and other associated costs: You should also consider other associated costs like training and implementation costs, review of the software and costs pertaining to licensing which tend to rise to great heights.
Once you have finished these steps satisfactorily you may finally complete the purchase action at ease.